Highest-materiality recent filing
Rafael Holdings Q3 net loss $4.2M; Phase 3 NPC trial done, NDA submission H2 2026
Net loss attributable to Rafael Holdings was $4.2M ($0.08/shr) vs $4.8M ($0.19/shr) a year ago.
Rafael Holdings announces Phase 3 TransportNPC study completion; NDA submission targeted H2 2026
Last patient completed final 96-week visit in pivotal Phase 3 TransportNPC study for Trappsol Cyclo in Niemann-Pick Disease Type C.
Exclusive license covers U.S. Patent No. 12285440 for cyclodextrins in ApoE4-positive Alzheimer's patients.
Rafael Holdings Q2 net loss $6.4M; Phase 3 trial on track for Q3 2026 top-line
Net loss of $6.4M ($0.13 per share) vs $4.6M ($0.19) YoY; increase due to Cyclo consolidation.
Rafael Holdings issues warrants after Cyclo Therapeutics merger; expire Dec 11, 2025
Issued 1,078,796 warrants exercisable for 380,253 Class B shares at $14.19 per share.
Rafael Holdings Q4 net loss $12.1M ($0.28/shr); cash $52.8M; Cyclo Phase 3 continues
Net loss attributable to Rafael Holdings of $12.1M for Q4 vs $4.5M year ago; FY net loss $30.5M ($1.04/shr).
Rafael Holdings CMO resigns, appoints Joshua Fine COO; severance agreements disclosed
John Goldberg resigned as CMO effective July 31, 2025; receives $218,195 severance plus 99,429 shares vesting Nov 4, 2025.
Rafael Holdings: Phase 3 Trappsol Cyclo NPC1 study continues after DMC interim review
DMC recommends continuation of 96-week TransportNPC study after 48-week interim safety/efficacy analysis.
Rafael Holdings Q3 net loss narrows to $4.8M; Phase 3 data expected this month
Net loss attributable to Rafael Holdings of $4.8M ($0.19 per share) vs. $32.4M loss ($1.36) in Q3 last year.
Rafael Holdings completes rights offering raising ~$24.9M net; backstop purchase by CEO for $21M
Rights offering: 3,130,480 shares subscribed at $1.28 for gross proceeds of $4.0M from non-backstop holders.
Rafael Holdings launches $25M rights offering backstopped by Chairman Howard Jonas
Rights offering to raise $25M at $1.28/share; record date May 9, 2025.
Rafael Holdings revises rights offering ratio to 0.603 shares per right at $1.28
Each subscription right now buys 0.603 Class B shares at $1.28, up from previously announced 0.526.
Rafael Holdings announces $25M rights offering at $1.28/share, backstopped by Chairman
Offering of up to $25M via non-transferable rights: each right buys 0.526 share at $1.28.
Rafael acquires Cyclo; Cyclo's 2024 net loss $23.3M, accumulated deficit $107.2M
Cyclo's 2024 net loss $23.3M ($0.81/share), revenue $0.9M, accumulated deficit $107.2M.
Rafael Holdings CEO Bill Conkling to step down; Executive Chairman Howard Jonas to become CEO
William Conkling resigns as CEO and President effective May 31, 2025; Howard Jonas appointed CEO and President effective June 1, 2025.
Rafael Holdings completes merger with Cyclo Therapeutics after shareholder approvals
Cyclo shareholders received 0.3525 shares of Rafael Class B common stock per share; Rafael issued approximately 7,132,228 shares.
Rafael Holdings stockholders approve share issuance for Cyclo Therapeutics merger
Share issuance proposal passed with 3,706,261 votes For (99.92%) vs. 1,571 Against.
Rafael Holdings Q2 net loss $4.6M vs prior year net income; merger with Cyclo pending
Net loss of $4.6M ($0.19/sh) for Q2 ended Jan 31, 2025 vs net income of $6.0M ($0.25/sh) a year ago.
Rafael Holdings converts $2.5M note into 39.5% stake in Cyclo Therapeutics
Converted $2,500,000 of outstanding convertible note principal into 3,968,254 shares of Cyclo common stock.
Rafael Holdings Q1 FY2025 net loss $9.0M; Cyclo merger on track
Net loss attributable to Rafael Holdings of $9.0M ($0.37 per share) vs $3.6M loss a year ago.
Q4 net loss from continuing ops $4.5M ($0.19/diluted) vs gain $1.3M ($0.06) year ago.
Rafael Holdings to merge with Cyclo Therapeutics; deal values Cyclo at $0.95/share
Rafael issues Class B common stock to Cyclo holders based on exchange ratio valuing Cyclo at $0.95/share and Rafael at net cash value.
Rafael Holdings Q3 net loss $32.4M ($1.36/sh) vs $1.4M loss YoY; driven by $89.9M IPR&D expense
Net loss from continuing operations of $32.4M ($1.36 diluted EPS) compared to $1.4M ($0.06) in prior-year quarter.
Rafael Holdings Q2 fiscal 2024 net income $5.9M; Day Three Labs stake raised to 79%
Net income from continuing ops $5.9M ($0.25 diluted EPS) vs loss of $3.3M (-$0.13) YoY.
Rafael Holdings gains ~67% control of Cornerstone via debt conversion and $1.5M investment
Converted $29.2M line of credit and $2.1M loan into 32.2M common shares at $0.97/sh.
Rafael Holdings reports Q4 net income of $1.3M; full-year loss narrows to $8.7M
Q4 net income from continuing ops $1.3M ($0.06/share) vs loss of $4.6M ($0.24/share) a year ago.
Howard Jonas gains control of Rafael Holdings via share transfer to his limited partnership
On July 31, 2023, eight trusts transferred 787,163 Class A shares (51.3% voting power) to a limited partnership controlled by Howard Jonas.
On April 23, 2025, the Company’s Board of Directors elected Howard Jonas, the Company’s Executive Chairman and Chairman of the Board, as the Company’s Chief Executive Officer and President, effective June 1, 2025.
On April 23, 2025, William Conkling resigned as Chief Executive Officer and President of Rafael Holdings, Inc. (the “Company”), effective May 31, 2025.
On March 25, 2025, effective as of the Effective Time, Markus W. Sieger, former Chairman of the Board of Cyclo, was appointed as a member of the Board.
On August 5, 2024, Mark McCamish resigned as director of Rafael Holdings, Inc., effective immediately.
On August 5, 2024, Mark N. Stein, MD was elected as a director of Rafael Holdings, Inc. and elected as a member of the Company’s Board of Directors Audit, Compensation and Corporate governance committees.
On October 25, 2023, Rachel Jonas resigned as director of Rafael Holdings, Inc., effective immediately.
On August 7, 2023, Dr. Boris Pasche, in connection with a change in his principal employment, resigned as director of Rafael Holdings, Inc. (the “Company”).
Max materiality 0.90 · Median 0.60 · Most common event other_material